In February, inflows into Ethereum-based exchange-traded funds (ETFs) have swelled, bringing with them about 145,000 ETH into these funds this month alone. That is almost seven times the total net inflows that Ethereum ETFs saw throughout January. The surge in investment can be viewed as an underscoring of interest in Ethereum as a long-term asset vis-à-vis a surge in the interest in cryptocurrencies generally among a largely institutional investor base. Conversely, during February, Bitcoin ETFs saw net outflows that were modest. While the total leaving funds amounted to 2,214 BTC, this does not necessarily indicate a change in sentiment. It
The post Ethereum ETFs See Major Inflows, While Bitcoin ETFs Experience Modest Outflows appeared first on The Merkle News.
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The bitcoin price is now up by approximately eight percent since the beginning of the week. At press time, the currency is trading for over $8,800, and $9,000 by Monday seems like a done deal granted bitcoin can keep up its current momentum. “We believe that the ‘winter’ is ending for bitcoin,” say Fundstrat Global Advisors’ Tom Lee. “Headline risks seem to be fading quickly.” Lee went on to discuss CoinsharesCrypto ETF, a trading platform situated in Europe. The organization serves as a leading indicator for bitcoin prices. Interestingly, Lee compared the system to Punxatawney Phil – the groundhog that
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